#1 O A firm is considering replacing the existing industrial air conditioning unit. They will pick one of two units. The first, the AC360, costs $26,984.00 to install, $5,168.00 to operate per year for 7 years at which time it will be sold for $6,878.00, The second, RayCool 8, costs $41,190,00 to install, $2,122.00 to operate per year for 5 years at which time it will be sold for $9,078,00. The firm's cost of capital is 5,95%. What is the equivalent annual cost of the AC3602 Assume that there are no taxes. Submit Answer format: Currency: Round to: 2 decimal places